How low will BTC go so I can buy more? How to gauge the bottom?

[john2231]

Hello all,

I want to buy more but at a lower price. What is a technique or a way to guesstimate the bottom or near the bottom?

In forex and stocks they talk about "support levels", does such a thing exist in BTC where you can see where the orders are open in mass, to then know that this is where the traders are buying back in?

Thanks

Usually support / resistance levels are a fairly good indicator, but right now the CNY / BTC exchange rate is heavily dragging Bitcoin down. USD 3k,- should offer some resistance, but I guess it will largely depend on whether the CNY / BTC to USD / BTC gap gets closed (or at least diminished). CNY / BTC went down as far as USD 2.2k,- today. So while I don't expect USD / BTC to reach this level it should give you a feel of the market misbalance right now.

Ignore the order books though, those buy and sell walls usually mean squat.

For now its really hard to predict but since the trends is falling the price could be decrease more soon.. from 3300 plus right now is falling and i think the price can be decrease more sooner..
the price could be stay as 3k i think if it can stay in this level after few days we will see the slow price increase back again.. but it will be depends in the market trends.. the resistance should be $3k level and it will gradually increase back.. base on what happen from last year. .

[1715571156]

1715571156

[raven7886]

I sold all now, will buy back lower.
I hope it is the right desicion.
China is the biggest BTC market and I think the BTC price will go to 3000$, maybe it goes much lower.

You sold all just now? That decision though is quite risky but you may be lucky if at all luck wants to smile on you. You may not be so sure if it will go lower than it already is and moreover china has come to clear the waves already for those who gullible followed the media by saying they ain't in anyway banning bitcoin. I dont know yet the level of poisitivity that news might cause but we can never really say can we?

[Kevin77]

Judging by the current state of the market, it is becoming hard to call the lower threshold mark although I predict it go down to around $3000. It all depends on traders' personal decisions and opinions to hold or to sell and as always, the panic sellers are the ones to be incurring loss having sold in the dip. Those who believe Bitcoin will rebound back from all the so called 'bubble' accusations are the ones holding onto their coins while those who are being pushed a step back by all the FUDs are the ones panic selling in the current situation.

And the whales who started the huge panic in the first place may decide to see a best point to start buying and before you know, price starts shooting up and you see a lot of people trying to fall in quickly to buy so as to make profits and then the bullish trend until it hits over $5k. That is how I foresee this whole thing will definitely unfold.

[hasmukh_rawal]

Hello all,

I want to buy more but at a lower price. What is a technique or a way to guesstimate the bottom or near the bottom?

In forex and stocks they talk about "support levels", does such a thing exist in BTC where you can see where the orders are open in mass, to then know that this is where the traders are buying back in?

Thanks

Yes, Support & Resistance exist in Bitcoin also and works here too but you need to know them in detail. You can start Accumulating BTC from now as I can see that $3000 level is still holding as strong support and today it touches near $4000 level. The technique I used to determine the bottom or top of any product is called RSI RANGE SHIFT. It is an advanced or you can say unconventional usage of RSI indicator and I have mastered it a few months back.In this method, the RSI indicator will take support on 40 levels (indicating the end of a downtrend) which is a sign of bottom formation after which the Bitcoin or any other trading product will move up. Similarly, for top formation, it will take resistance near 60 levels (indicating the end of an uptrend) after which the trading product will move down. You can check this technique in any cryptocurrency chart I am 100% confident and sure that you will get it, without this formation the bitcoin will not move up or down.

[Dudeperfect]

I am not sure if there is any such method or not but you can always go with price averaging technique to keep the purchase price as low as you can with this method.

Never buy or sell as a whole. If you are buying in market falling conditions and selling when it is going upwards then your 100% capital should be divided like,

1. Buy Low - 20% - 20% - 40%
2. Wait - Hold 100%
3. Sell High - 40% - 20% - 20%

This strategy will take the advantage of the price averaging technique and render high profits.

One can not predict the accurate future but we can predict the trend and if you can build the strategy according to the research then it works most of the times. It's not a rocket science but taking advantage of the market situation by understanding the behaviour of it.

[Potato Chips]

I can't give even an estimation because it'll likely go off moreover bitcoin is wild so most of the time it'll go beyond that. my only advice is to wait for the fast pump.

if you've been here for a few months, i'm sure you have noticed the cycle. bitcoin will likely have a price crash after a fast pump. you don't have to devote too much

time to watch the market, just a one or two price check per day if the price had some excessive rise for 3 days its the start of the fast pump now you you just have

to wait for the crash

[HeRetiK]

It's interesting how our perception has changed. We can't see BTC going back to 2000, when it was 900 at the beginning of the year. What has changed since then except the price 

I'm not saying it will go back there though. Impossible to tell without substantial news.

Not much except that Bitcoin survived a hardfork, got SegWit activated, has Lightning Network well on its way and has proven that it can survive a > 500% growth spurt without instantly crashing down

Apart from that there's of course a lot of psychology involved. While 1 year ago USD 2k,- BTC looked expensive it now looks cheap, showing itself in what technical analysis calls support and resistance.

[game-protect]

You have to observe the price chart and marketcap and when people start to buy again and the marketcap will rise again, let us say for 5%, then you should have gauged the bottom.

During the last crash this happened at around $3,000.

[pawanjain]

The price of Bitcoin ain't going any lower now. It has increased to $4000 now and all those great buying opportunities have been finished now.
Even then I consider the $4000 price to be low because Bitcoin has the capability to be at even more higher rates. All those who bought BTC at lower rates would be luck enough to have a good profit now. Bitcoin will soon cross $4500 and hit the $5000 target.

[Pearls Before Swine]

You can tell the bottom by when the descending price trend starts to slow down.
It's as simple as that. Also, support levels do exist in BTC, you just got to check the main BTC markets.

That's not reliable.  If it was, everyone would do it and it wouldn't work
for long.  I'm fairly sure there's absolutely no way to predict the future accurately.
And I'm nearly 100% sure there's no way to call the bottom on a market.  When
btc hit $3000 just recently, there were people saying it was going as low as
$1900 and people saying it was doomsday....it's all guesswork.

[yvesp110]

Judging by the current state of the market, it is becoming hard to call the lower threshold mark although I predict it go down to around $3000. It all depends on traders' personal decisions and opinions to hold or to sell and as always, the panic sellers are the ones to be incurring loss having sold in the dip. Those who believe Bitcoin will rebound back from all the so called 'bubble' accusations are the ones holding onto their coins while those who are being pushed a step back by all the FUDs are the ones panic selling in the current situation.

And the whales who started the huge panic in the first place may decide to see a best point to start buying and before you know, price starts shooting up and you see a lot of people trying to fall in quickly to buy so as to make profits and then the bullish trend until it hits over $5k. That is how I foresee this whole thing will definitely unfold.

You better unfolded it I think whales are playing this game of pumping and dumping. Actually they have to make themselves strong so they make notorious effects in market, people get panic and sell, market is getting more bitcoins back and prices are low. They buy and then raise the price again. Don’t wait just buy now.

[JohnBitCo]

Hello all,

I want to buy more but at a lower price. What is a technique or a way to guesstimate the bottom or near the bottom?

In forex and stocks they talk about "support levels", does such a thing exist in BTC where you can see where the orders are open in mass, to then know that this is where the traders are buying back in?

Thanks

It is hard to figure out mate, but just take note of this, buy bitcoin when you think it is dump or lower because surely after dump time it will pump high, like what we had this few days, it goes lower than 4k$ but now it is recovering to its price. That's how most trader and myself get earnings from bitcoins.

[nelsledma]

You can tell the bottom by when the descending price trend starts to slow down.
It's as simple as that. Also, support levels do exist in BTC, you just got to check the main BTC markets.

This is just the best answer anyone can give you. However, to be on the safer side, and if you have enough funds, you can buy some now, and when it goes lower at least by another probably 5%, you buy again. The average will still not be that bad to get profit when it shoots back up. For me, anywhere you buy now is a good time.

[KingdomHearts]

Bitcoin's price is not going down then 3k$ , so i think you should buy as much as you can in case Bitcoin really get to the price 3k$ .

If it gets anywhere clost to the 3k, then that would be a huge jackpot for a whole lot of people and I surely would be one of them. Most times, if you know how to play your card well, you can easily use the volatility of the market to  enrich yourself.

[soham]

Hello all,

I want to buy more but at a lower price. What is a technique or a way to guesstimate the bottom or near the bottom?

In forex and stocks they talk about "support levels", does such a thing exist in BTC where you can see where the orders are open in mass, to then know that this is where the traders are buying back in?

Thanks

It is not really feasible to guess the bottom of bitcoin price because it is not structured like the forex or stock market. Bitcoin market mainly functions on public sentiment and since the investors are from different race and place, it is almost impossible to guess their sentiment. However, joining a large public group can be helpful to know what others are thinking.